9 Advantages of Taking a Personal loan For a Medical Emergency

A medical emergency is like a bolt of lightning. It can strike anytime. Your medical insurance is one way of being prepared for an emergency, but it is helpful if you are aware of other options. In some cases an insurance is not enough. In such situations, you can consider availing an urgent personal loan for a medical emergency. A medical loan is an unsecured personal loan. Every insurance cover has some limitations when it comes to the type of treatment, the choice of medical institution or the ailment itself. This is when a medical loan is beneficial.

Here are some advantages of availing a personal loan for medical emergencies –

1. Get treatments at Non-Cashless Hospitals or for Non-Cashless Procedures

Many hospitals do not accept cashless treatments. So if you need to do the payment upfront, you can take a medical loan and get instant cash. Also, some medical procedures require cash payments, in such cases, the funds from your medical loan can be useful for payments.

2. High-Speed Approval

The process to get a medical loan with Indiabulls Dhani is completely digital. You can visit our website or download our mobile app and avail a medical loan anytime. The details you enter are verified swiftly and you get a speedy approval.

3. Instant Loan Disbursal

Once you get an approval for the applied loan, the money is disbursed into your account almost instantly. This helps you concentrate on other important tasks of the treatment.

4. Loan for Any Type of Ailment

You can take a personal loan for any time of medical condition. Whether it is a dental or cosmetic surgery or a long-term treatment, a medical loan can be used for anything. All you need to know is the total amount of the expenses and you can avail a loan for that much amount.

5. Treatment at the Hospital of Your Choice

You might want to get treated for your condition at a particular hospital. But that hospital may not be listed under your insurance plan. In such cases, a medical loan is handy as there is no such restriction regarding hospitals and you can get treated at the hospital of your choice.

6. Flexible Tenure Options

Medical loans have a flexible tenure option. You can repay the loan with monthly installments. The tenure period for a medical loan at Indiabulls Dhani is from 3 months to 24 months.

7. No Prepayment Charges

If you wish to prepay your loan before the tenure ends, then we charge no prepayment fees till Rs. 20,000.

8. No Need for any Collateral

Any type of loan needs collateral. But if it is a personal loan then Banks and NBFCs do not ask for any security or collateral. So in times of emergency, you do not have to stress about collateral and get a loan instantly.

9. Minimal Documentation

There is a lot of paperwork when you have to avail any kind of loan. If it is a loan for a medical emergency then you need to submit documents such as the treatment details, medical history etc. Here at Indiabulls Dhani we only ask you for your identity and address proof details. Also, the process is online hence it is a paperless loan.

Everyone has an insurance cover these days, but it is important that you have access to other options in times of contingency. An urgent personal loan for a medical emergency is one such option which can be helpful when your medical cover falls short of covering your expenses.

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